Revista del CEI - Centro de Economía Internacional

Figure 1Australia's Exports by Sector 2005US$ 135,933 millonArgentina's Exports by Sector 2005US$ 46,357 millonPrimaryProducts50%Services21%AgriculturalManufactures28%Primary Products32%SimplyTransformedProducts6%ElaboratelyTransformedProducts15%Gold and Otherexports8%Services14%IndustrialM anufactures26%Source: Australian Department of Foreign Affairs and Trade.Figure 2100806040200-20-40-60-80-100-8434-5324Net Exports of Agricultural Products and ManufacturesPercentages for 2003-2004* average valueJapan Korea China Mexico Extra-EU US India ASEAN-2211-5-16 -148-3-26Agricultural Products11 11248ManufacturesRest ofALADI Australia40-5154-56Brazil Argentina72 884-40* Net exports are the result of (X-M)/(X+M) for each product.Source: CEI based on COMTRADE data.Regarding economic openness measured as a function of exports and imports of goods in relation toGDP, it can be observed that Argentina’s ratios in 2005 were 22% and 16%, respectively. In the case ofAustralia those shares were 15% and 17%. When trade in services is added, the ratios for Argentina reach25% and 19% of total exports and imports over GDP, whereas in Australia such shares come to 19% and21%.The previous situation might lead us to consider that both economies have similar degrees of openness.Argentina is somewhat more open than Australia as far as exports are concerned, and slightly less open ifmeasurement is based on imports.